Amazon is investing in start-up for electric cars

Feb

16

2019

Amazon has invested hundreds of millions of dollars in Rivian, a start-up that deals with making electric cars. Rivian remains an independent company, but it is still unclear what Amazon wants exactly with the investment.

Rivian made the investment itself known through a press release. According to the start-up, an amount of 700 million dollars was raised in an investment round, about 619 million euros. Rivian states that Amazon was one of the main investors, in addition to a number of existing shareholders, but precise amounts have not been disclosed.

Also little has been released about the reason for the investment, so it is not clear what Amazon wants to achieve with investing in Rivian. Many large tech companies are investing in technology for electric and self-driving cars, and Amazon may want to get involved in this as well. Rivian now emphasizes that it remains an independent company.

Last month it was already known that Amazon invested an amount in a company that makes technology for self-driving cars. That company is Aurora Innovation.

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